York Region Prices slowly bouncing back? - November Real Estate Markert Report

After four months of stable prices, there hasn't been much of a change in November. In some areas of York Region prices have dropped a little but all together the prices have remained steady or even slightly gone up. The average home price in York Region in November was $1,309,646 (October: $1,258,610). On a year-over-year basis prices in the Region are 6% down.

(Source: Market Watch Toronto Regional Real Estate Board)

Prices back to early 2021 level

In Aurora the average price in November was $1,270,930. That reflects a 11.7% decrease compared to last year and 6.8% lower than this October. The average price point in Newmarket was $1,090,896 - 10.2% lower on a year-over-year basis and 4.3% less than in the previous month. Prices in East Gwillimbury dropped from $1,356,782 (Nov '21) to $1,193,196 (-12%). We are now seeing prices back to where they were in the first half of 2021.

Sales 49% down

Throughout Toronto and the GTA a total of 4544 sales has been reported through the MLS System of the Toronto Regional Real Estate Board. That's 49% less than in the previous year. Market activity in November continued to be influenced by the impact of higher borrowing costs. The average price for all types of homes combined was $1,079,395 (-7.2%).